Petroleum. Riyadh expects deficit of 20.659 million in the face of falling revenues

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Petroleum. Riyadh expects deficit of 20.659 million in the face of falling revenues

Initially, the Government anticipated a surplus of 16 billion Saudi riyals in 2023, but new forecasts point to a deficit equivalent to 2% of the Gross Domestic Product (GDP). According to a statement from the executive, a deficit of 79,000 million Saudi riyals (19,904 million euros) is also expected for the following year. In December, Riyadh announced its first budget surplus in nearly 10 years. Oil revenues declined 17% this year due to the fa…